Location: Jackson County, NC | Metro: Haywood County, NC
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,010 | $258,800 | 0.39% | F |
| 2BR | $1,110 | $320,960 | 0.35% | F |
| 3BR | $1,340 | $469,275 | 0.29% | F |
| 4BR | $1,660 | $692,718 | 0.24% | F |
U.S. Census Bureau data (2024)
ZIP 28723, located in Cullowhee, NC, within the Jackson County, NC metro area, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for FY 2024 is set at $1240, which is slightly above the current market rent of $1231. This positive spread ensures that landlords can reliably cover their expenses and generate a steady income stream. Additionally, the median home value in the area is $430,106, indicating a stable housing market where property values are unlikely to fluctuate dramatically.
The key to understanding why ZIP 28723 acts as a cash-flow anchor lies in the minimal risk associated with rental income. With a 0.1% price-cut share, it's evident that landlords rarely need to lower their rents to attract tenants, maintaining consistent revenue. Furthermore, the N/A-day Days on Market (DOM) suggests that properties are typically occupied without long vacancies, which is crucial for cash flow stability.
While the 63.5% renter share and median income of $45,568 might suggest diversification opportunities, these factors are overshadowed by the immediate financial benefits of a cash-flow anchor. The high renter share means there is strong demand for rentals, but the median income figure does not indicate significant potential for rapid appreciation in property values or rental rates. Instead, the focus should be on the reliable income generated by the slight premium of the FMR over the market rent, ensuring that landlords can meet their financial obligations consistently.
In conclusion, ZIP 28723 is best suited as a cash-flow anchor within a Section 8 portfolio due to its stable market conditions and the favorable spread between FMR and market rent. Landlords and small-portfolio investors can expect steady and predictable returns from properties in this area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.